Tell the insurance company anyway. They will want to know when you renew anyway. You don't have to claim so can't lose your excess or NCB if you dont claim. Then get the word from your LAME,. as you've heard above it migh not be a big deal at all... or it might be.
We had to get a couple of aileron skins replaced recently after a ding on a hangar door... it took about two and a half months. LAME went out to the plane removed said aileron, sent it to the sheety for 'repair'. Skins had to be ordered from Cessna, took about two weeks. Sheety was very busy so he got someone in to do the job, after I winged and moaned about it taking so long. (Lesson 1: NEVER whinge and moan to a LAME, whatever they are doing to you... they can always make it worse!) I picked up the aileron myself. Whoever fitted the skins made a right pigs ear of it - trailing edge was all over the place .... So I whinged some more (even bigger mistake!) and they eventually agreed to redo it, which of course meant reordering the skins and waiting until the guy who knew what he was doing could fit it in. This time it was OK... just a matter of waiting for the painter, who couldn't fit this 10 minute job in for 2 1/2 weeks.. My fault for being a whinger I guess...
Long and short of it was about $1800 all up. Not worth a claim and so did not do so although we did let the insurance company know it had happened and we might claim. They don't seem to have penalised us in any way as a result. A claim history is not good whatever the financial implications.